Answer to Question #45289 in Finance for venotini

Question #45289
Explain the importance of integrity and ethics in preparing and reporting financial information..
Expert's answer
Clearly both integrity and ethics are important in preparing and reporting financial information. If you are completing your Tax Return, your return will be subject to the scrutiny of trained/expert accountants and if you have falsely represented your earnings, then you may well spend some time in prison.
If you are making financial reports for your company or an individual, then it is crucial that your reports are accurate because we are judged by how we measure-up to the trust that others place in us. Business and commerce operates on the basis of trust and the belief that it is safe to do business with others.
There have been many media reports about employees using fraudulent practices to divert employers assets (usually cash) to their personal account. They usually serve long prison sentences and bring shame on themselves and their families. Equally, they damage the business relationships between employers and customers.

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!


Assignment Expert
29.12.14, 16:42

Dear Sakti, please use panel for submitting new questions

29.12.14, 04:28

Assume that your company operates a joint-production process that generates three main products and one by-product. If you allocate joint costs only for financial reporting, would you ever care whether you use the net realizable value or the physical-measures method? Explain.

Leave a comment

Ask Your question

New on Blog